Winema Gaven

Wednesday, June 20, 2018

So in my last post I made two bold predictions on the
economy in the coming century, that emerging markets in Asia and Africa will be
the driving force of many of the changes we see in the world.

East Timor

Is a war torn nation that no one knows much
about, or has even heard of. The currency of choice here is single American
dollars. The country is extremely poor and lacks almost any infrastructure of
any kind. Will any entrepreneurs step up and make a difference in this country?
Where there are problems, there is opportunity.

Sri Lanka

I have a friend who recently raised 30 million
from the largest telecom in the country after being in the country for just 3
months. They now have the ENTIRE e-commerce marketplace to themselves. They are
quite literally; they are the only company doing e-commerce at scale in the
entire country. After a few weeks of operation, they eclipsed 101 employees
today. Their headliner is a daily deals site / group-on clone: anything.lk

Burma

I’ll report back from Myanmar next week, as I’ll
be jumping on a plane to head there shortly. For those who are interested in
visiting, the visa situation is a pain! I decided to go last minute to attend a
conference, and although I qualify for a “visa on arrival” the process is
anything but clear. You need a letter from a Burmese business with address IN
Myanmar (as well as permission from a ministry). Full details are available at
this site. It is much, much easier to arrange a visa in advance at a local
embassy.

Indonesia

From what I’ve seen so far from Indonesia, I
enjoy this country. However, corruption at the lowest levels, as dealing with
police (or the local banjar) can be burdensome for entrepreneurs. As for most
places around the world, it’s best to enjoy your time here, follow the rules
and don’t make too much noise. Although it is one of the largest emerging
markets, if you are going to start a business here, you better have a great
understanding of the culture, a well-connected local partner and deep pockets.
I’ve written about starting a business in Bali in this post. If you are able to
start a business, you’ll find incredible local talent for an inexpensive rate.
The workforce is (by and large) more technically skilled than many other
countries in the region, and there are great developers and designers.

South
Korea

Korea is a place I don’t know much about. From
an outsiders perspective, it’s not an emerging market, it seems expensive and
difficult to penetrate as a foreigner without extensive time and effort.
Although I have Korean friends who I know and love, it doesn’t attract me from
an a macro-economic perspective and I can’t see this economy having the growth
potential of others in the region. It is very well developed, and in many ways
the polar opposite of its neighbor to the north…

North
Korea

North Korea is the last frontier of Asia –
hidden behind a communist veil, much of the society is kept in secrecy. I do
know some people who have been able to visit and do business in the country.
Believe it or not, they run a consultancy that teaches social skills. I guess
that proves that maybe there is a market in NK? Recently it came out that
Google is trying to penetrate into the economy here, and bring peace to the
people. This is an admirable goal in my mind, and displays how the free market
and private business can accomplish something that bureaucracy and governments
could never accomplish in the country – freedom, peace and profitability.

China

China is intimidating. A huge market full of
opportunities. Learn more on how to incorporate a company and do business in
China.

Hong Kong

Hong Kong is amazing, I love spending time in
this country and it is just so damn entertaining to go out for a night on the
town in this city. Hong Kong has a great culture – its not overbearing with
centuries of tradition, but its deep enough to have caught its voice and be
able to proudly proclaim: this is what it’s like to be Hongkongnese.

Hong Kong simultaneously both IS and IS NOT
China. Technically, it is a “special administrative republic” and Hong Kong
S.A.R. is an exemplar for an efficient free market economy, yet for all intents
and purposes, is subservient to the centrally controlled Mainland. Although the
quality of life, language, way of doing business, food, travel documents, and a
lot of other things are completely different – Hong Kong IS china.

Singapore is THE best place in the world to
start a business. I’ve written about Singapore city here and also here. I have
a deep respect for the ability of the government to spur entrepreneurship and
innovation, and raise the quality of life for a society. Living here is a joy,
and I love being here for that reason, now if I could only find some interests
outside of my work…

Thailand

I write too much about this country already. I’m
redacting my previous statements on the LOS. There is “nothing” to see in
Thailand, please move along… My advice to backpacking tourists looking to “find
themselves” and “see elephants” and “ladyboys” is to stay for a day, visit
Phuket and then get out. We never wanted you here anyway.

For those of you who want to see the real
Thailand… I recommend at least a year on the ground. Learning the language,
starting a business, getting a multiple entry visa in Thailand through a Thai
Company, and living in Bangkok city.

Cambodia

Cambodia is the future rice bowl of SE Asia.
Along with Thailand and Vietnam, this is where the bulk of food will be
produced in the 21st century. it’s also a very young society, and its
developing quickly. I’ve seen ventures fail here (premium beer, commerce) and
other succeed (citizenship by investment, property investment, fund management,
rice, micro lending) the business field is wide open. Read more about Cambodia
here. Read more about Cambodia’s Flag Theory and How to Get Cambodian
Citizenship | Frontier Investing | Private Equity

Vietnam

Vietnam has an emerging tech community. You
would not believe the talent that comes out of this country in terms of
technical ability. The currency is a dong, and the government makes it near
impossible to start a business unless you know the right people. Even the locals
have to go and stand in a room and be read a number in order to start a company
here. I spoke to a young girl that did it herself (instead of pay a company
rough $200). From the beginning, you should only pick a venture that the
government will LIKE – because if they don’t like you – bye bye. Take for
instance Facebook – which saw a countrywide ban when groups starting popping up
opposing the incumbent party. Check this article on How to set up a Vietnam LLC
for further information.

Philippines

Ahhh the Philippines. The friendliest people on
earth. Despite having one of the lowest GDP per capita, they have one of the
highest happiness ratings. The women here are very intelligent. If you want to
set up a business here, make sure you have strong females on your side, and
great government connections. They are open to foreigners doing business, but
all of the guys I know here that have had success know when to show their
palms, and when to show their teeth. REAL power rules.

If you are interested in setting up a company in
the Philippines, or learning more, check out this post on why it’s more fun in
the Philippines…

There is a lot of opportunity here; partially
displayed by the fact that Google is setting up a HQ in the Philippines. As a
societal whole, you really want to root for them. They have the potential, they
could do better, and they even know it themselves (see this commentary called
“get real Philippines” or just look at the town slogans “aim high!”

Tuesday, June 5, 2018

1. Protect against inflation – The real return savers actually make from interest rates is the actual profit you are left with after taking the effects of the currency’s inflation into account. Inflation is the rise in prices for goods and services over a period of time – usually calculated annually. When weighing up a rate offer, deduct the known inflation percentage to find out how much you’ll actually end up. Advisers also tell savers to include the impact of tax when estimating a potential profit to ensure an accurate projection of likely returns.

2. Protect against bankruptcy – Following a period of intense merger activity within the offshore savings sector, all savers should check that their accounts are not spread amongst deposit-takers owned by the same parent institution. If so, only a portion of your overall savings nest-egg may qualify for compensation if a deposit-taker goes to the wall.

3. Protect against lack of compensation rights – We’ve seen the collapse of two Icelandic banks in offshore Britain (Landsbanki Guernsey and Kaupthing Singer & Friedlander Isle of Man) so we know the worst does happen to some savers. It is essential to always interrogate a jurisdiction’s financial compensation scheme before putting a penny of your hard-earned cash with any of its financial institutions.

4. Protect against ID fraud – It is imperative you comply with identity protection procedures initiated by your deposit-taker. Your part of the bargain in the fight against fraud is never reveal passwords and security codes to anyone. If savings accounts are managed online, never leave a computer screen bearing the details. Do not fall victim to an email scam asking you to re-register your personal details. Real financial institutions would never compromise their customers in this way.

5. Protect against adverse terms and conditions – Always read the small print of any terms and conditions when opening an account. Look out for penalties in the form of loss of interest against withdrawals made outside the notice terms and ways in which you could miss out on introductory, or loyalty bonuses.

6. Profit by comparisons – it pays to research the rates paid by deposit-takers. Be sure to compare like with like and don’t be taken in by a new rate offer that is well above the market average. Those tempting percentages could be slashed once savers have been caught in the net.

7. Profit from a competitive market – Today’s market is more competitive than ever. To put it bluntly, financial companies want savers more than they do borrowers. Select a handful of consistent top league payers and do your research to find out which one really wants to reward your customer loyalty.

8. Profit by tracking market movements – Rates paid are still pegged to a currency’s base rate set by central banks. If you saving in sterling, euros and US dollars, make sure you stay abreast of these currencies’ base rates to gauge the rate offers on your accounts.

9. Profit by locking away for longer – Recent economic conditions aside, the best paying accounts are those that lock savers into a fixed term – we’re talking a couple of percentage points’ difference. Calculate how long you can manage without accessing your savings pot and match that period with a provider’s best fixed term offer.

10. Profit by saving regularly – Get the best from regular savings with products that encourage and reward such good habits.

Monday, May 14, 2018

There is a common misconception that having an offshore company means that you are doing something illegal. The truth is that having an offshore company can benefit your business in a number of very legal ways. If you are looking at offshore company formation, there are a number of tips that you need to know about. These tips will ensure that the offshore company formation process works for you.

Have a List of Questions

The first tip that you need to know about is to have a list of questions ready which are related to your business. These questions should include why an offshore company will work for your business. You should also consider who will be involved with the business and what your business exit strategy will be if something were to go wrong. Any question that you have about forming an offshore company should be put on the list and you need to have this with you when you visit an advisor.

Choosing the Right Advisor

DIY offshore company formation is not recommended because there is a lot of knowledge that you will not have. This is why you will need to choose the right advisor to help you start your offshore company. The advisor will need to have extensive knowledge about different offshore locations and how you would form a company in these locations.

When you meet with the advisor, you will need to find out about their experience and training. You should also ask them the questions on the list that you have. If they are able to adequately answer all of the questions, you should consider working with them.

Choosing the Right Jurisdiction

One of the most important aspects of offshore company formation is choosing the right jurisdiction. Not all jurisdictions will work for your company and it is important to know this. You should look for a jurisdiction that has a good and long-standing reputation as well as being a stable country. The company tax of the jurisdiction should also be looked at. There are some popular jurisdictions such as Hong Kong and Belize, but you should ask your advisor for more information.

When looking at jurisdictions, you should also consider the other laws that govern the country. There are some countries that have stricter regulations for certain types of businesses and you need to know about this. You need to stay within the legal framework of the jurisdiction so knowing what this framework is will be important.

Know the Costs

There are many services that can help you form an offshore company, but not all of them will have their costs on their website. This is why you need to discuss the costs of using the service early to determine if the company is within your budget. The costs will typically include setup fees as well as the annual renewal fees.

Offshore company formation is not something that you should do yourself. However, there is a lot of research that you should do before you contact and advisor or choose a jurisdiction.

Wednesday, April 25, 2018

If you are a U.S.
citizen or resident and maintain an undisclosed foreign bank account, beware.
As numerous prosecutions trumpeted by the IRS make clear, the stakes have never
been higher and the potential liabilities can be staggering. Why worry?

The vaunted secrecy of
Swiss and other tax havens turns out not to be so secret after all. They've
already named names to the IRS and more are on the way. Although the UBS case was
most publicized, HSBC, Credit Suisse, and many other banks are in the mix now,
as are many foreign countries besides Switzerland. So putting your head in the
sand won't work in the long term.

The IRS had a special
"Voluntary Disclosure Program" to bring violators into the fold, but
the cutoff for participating in it was Oct. 15, 2009. If you are in that
program, you are probably still slogging through filings and disclosures to the
IRS. But if you missed that deadline--and many thousands did--beware. Sooner or
later you'll have to address this problem one way or another.

Here's what you need
to know:

1. You Must Report Worldwide Income

You must report your
worldwide income on your U.S. income tax return. Plus, you must check
"yes" (on Schedule B) if you have an interest in a foreign bank or
financial account. Worldwide income means everything, including interest,
foreign earnings, wages, dividends and other income. Even if the foreign income
is taxed somewhere else, you still must report it to the IRS. You might be
entitled to a foreign tax credit, or if you are living and working abroad, you
may be entitled to an exclusion from U.S. tax for some or all of the income you
earn abroad. But you still must report it.

2. Tax Return Disclosure Isn't Enough

Tax return filing
alone isn't enough. All U.S. persons with foreign bank accounts must also file
annually a Treasury Department Form, TD F 90-22.1 Report of Foreign Bank and
Financial Accounts--commonly called an FBAR. The FBAR is due each June 30 for the
preceding year. You must file an FBAR if the aggregate value of your foreign
financial accounts exceeds $10,000 at any time during the year. All your
foreign accounts are aggregated, so if you have two small accounts, say one in
Germany with $5,000, and one in England with $6,000, you need to file an FBAR.
If your foreign account balances at all times during the year total less than
the equivalent of $10,000 U.S., you do not need to check the box on your tax
return or file an FBAR, but you must still report any account earnings on your
tax return.

3. There Are Big Tax Penalties

If you don't comply
with one or both sets of obligations the penalties are severe. You sign tax
returns under penalties of perjury, so if you fail to report your worldwide
income--or even fail to check the box disclosing you have a foreign account--it
can be considered tax evasion and fraud. The statute of limitations on such
criminal acts is six years. Plus, the statute of limitations never expires on
civil tax fraud, so the IRS can pursue you 10 or 20 years later for back taxes,
interest and penalties. If you failed to report income, your civil liability to
the IRS can include a 20% accuracy-related penalty or a 75% civil fraud
penalty.

4. FBAR Penalties Are Even Bigger

The penalties for
failure to file an FBAR are even worse. Failing to file an FBAR can carry a
civil penalty of $10,000 for each non-willful violation. But if your violation
is found to be willful, the penalty is the greater of $100,000 or 50 percent of
the amount in the account for each violation--and each year you didn't file is
a separate violation.

5. You Can Go To Jail

Filing a false tax
return is a felony, while failing to file is only a misdemeanor--think of it as
the Wesley Snipes rule. A person convicted of tax evasion can face a prison
term of up to five years and a fine of up to $250,000. Filing a false return
can mean up to three years in prison and a fine of up to $250,000. A person who
fails to file a tax return can face up to one year of prison and a fine of up
to $100,000. Failing to file FBARs can be criminal too, and the penalties are
even more severe. The monetary penalties can be up to $500,000 and the
potential prison term is up to ten years.

6. Voluntary Disclosure Is Still an Option

If you admit your
failures to the IRS and say you want to make it right, you've made a
"voluntary disclosure." Don't confuse this with the "Voluntary
Disclosure Program," which had an Oct. 15, 2009 deadline. It is too late
for that prepackaged program, but it's not too late to make an individual
"voluntary disclosure." A voluntary disclosure must be truthful,
timely and complete. You must: cooperate with the IRS in determining your
correct tax liability; and make good faith arrangements with the IRS to pay the
tax, interest and penalties determined by the IRS.

While a voluntary
disclosure does not guarantee immunity from prosecution, the government
generally will not prosecute you if you come forward voluntarily before you're
under investigation. (If the IRS is already investigating you, all bets are
off.) Note, however, that in publicizing the IRS Voluntary Disclosure Program
in 2009, the IRS made clear it would show no mercy to those with undisclosed offshore
accounts who didn't turn themselves in by the Oct. 15,
2009 deadline. For that reason, some tax lawyers fear that the traditional
advantage of a voluntary disclosure--no criminal prosecution--is less certain.

Stepping forward
should be done through a tax lawyer to the IRS Criminal Investigation Division.
Usually the case will be referred to the civil branch of the IRS where all the
filings, amending and penalty calculations are done. You then must file amended
income tax returns for past years and delinquent FBARs. There's no bright line
for how far back you'll have to go, as situations vary. However, the Oct. 15,
2009 program required six years of amended tax returns and FBARs, so that's a
good benchmark. The total cost of making a voluntary disclosure is also hard to
assess, but it can be more than the amount in your foreign account.

7. "Quiet Disclosure" Is Also an Option

Some practitioners
consider a voluntary disclosure "noisy," since it involves going to
the IRS Criminal Investigation Division. A "quiet" disclosure
involves a correction of past problems without drawing attention to what you
are doing and without going to the IRS Criminal Investigation Division. If you
amend all past tax returns to report all income, check the box on Schedule B,
and file all past due FBARs, haven't you (quietly) fixed everything? Arguably,
yes. You would send in all the money you owe or wait to be billed. If you have been
paying foreign taxes on your foreign earnings, your foreign tax credits could
even net out the U.S. tax, so you might not owe back taxes.

If you reported and
paid tax on all your income but did not file FBARs, you should attach a
statement explaining why they were late. Perhaps you had never heard of FBARs
or were told by your accountant you were in full compliance. You can avoid
penalties if you had "reasonable cause" for not filing FBARs, but the
grounds for waiving penalties aren't terribly clear.

8. Inconsistency Will Hurt You

Can you amend your tax
returns, reporting your worldwide income and checking the foreign account box,
but not bother filing delinquent FBARs? By checking the tax return box
acknowledging your foreign account, you are admitting you have an FBAR filing
obligation. So not also filing the delinquent FBARs seems risky.

Even though FBAR
penalties are big, there have been some indications the IRS may not be pushing
them too hard. If you don't file a pile of old FBARs, perhaps it won't be
obvious you didn't file in the past? A tax lawyer cannot recommend this, but
some clients are probably choosing not to file old FBARs.

9. Prospective Compliance Only Is Risky

Can you start filing
complete tax returns and FBARs prospectively, but not try to fix the past? Some
people think the IRS is so overwhelmed with FBARs and tax returns that you
might be OK, but the risks are enormous and I cannot recommend it. The IRS may
ask about the lack of prior FBARs and of prior tax returns disclosing a foreign
account. If they ask questions, you should respond through your attorney and
you can't lie.

10. Keeping Money Offshore Is Still Legal

Should you close all
your foreign accounts and bring your money home? You are entitled to have money
and investments anywhere in the world as long as you disclose your foreign
accounts. If you are considering not trying to clean up your past tax returns
and FBARs, you may be tempted to close your foreign account. However, closing
your foreign account doesn't relieve you of the obligation to file accurate tax
returns and FBARs. Tying off the problem prospectively may make sense, but can
make your lack of compliance even worse if your actions are viewed as efforts
to conceal your previous offshore activities. For that reason, don't take any
of these steps without professional advice.

There's widespread
confusion and noncompliance involving foreign bank accounts and the situation
is unlikely to get better. Get some professional advice and try to get your
situation resolved.

Monday, April 9, 2018

A non-UK domiciled but resident client has used the remittance basis since 2008/09 and made an election under TCGA 1992, s 16ZA. Remittances have been made to the UK from a mixed offshore fund.

My non-UK domiciled client has used the remittance basis since 2008/09 and made an election under TCGA 1992, s 16ZA. He remitted a significant amount of funds to the UK in 2011/12 from a “mixed fund” foreign bank account (one of several).

The deposits have been analyzed between (broadly) income, gains and clean capital for every year. However, my queries concern the treatment of withdrawals that are not remittances to the UK or transfers to other foreign bank accounts.

First, it would appear that income, gains and capital of the fund should not be allocated to the alienation of funds used for personal foreign expenditure (e.g. payment of a foreign electricity bill). Is this correct? Such items would, of course, deplete the bank account without any unremitted funds being matched.

Second, $20,000 was withdrawn in 2009/10 to acquire some foreign shares that were sold at a $5,000 loss in 2010/11 (the $15,000 proceeds being deposited in the same bank account).

I have treated the withdrawal as an “offshore transfer” thereby preserving the source of the $20,000 under the anti-avoidance rules (ITA 2007, s 809R (4)). I am also aware of the requirement to trace foreign income and gains through a series of transactions (see HMRC’s manuals at RDRM35030) that prevent, for example, reinvested income being converted into gains.

My question is how the $15,000 receipt should be analyzed if the source of the original acquisition was $8,000 income, $3,000 gains and $9,000 capital. Is $8,000 income deemed to be deposited first, followed by $3,000 gains and finally $4,000 capital?

I cannot find a rule governing the order of priority. If the loss was large enough, some unremitted income could be “lost”, potentially giving double relief for the capital loss (reduction of unremitted income and the capital loss). Surely this cannot be right?

Could any readers shed light on this?

Reply from Nick Harvey, Dixon Wilson

The use of funds that are held overseas and used for personal foreign expenditure is treated as an offshore transfer on the basis that they are not onshore transfers because any transfer that does not fall within ITA 2007, s 809Q is automatically within ITA 2007, s 809R(5).

This is subject to the anti-avoidance rule in s 809R (6), which states that the funds transferred should not fall within s 809Q before the end of the tax year and, on the basis of the best estimate that can reasonably be made at that time, s 809Q will not apply in relation to them (ie that the funds subject to the offshore transfer are not subsequently remitted to the UK and there is no expectation that they will be in future).

Clearly, if the money has been spent on a foreign electricity bill, there is no such prospect and, as such, the personal foreign expenditure will result in a proportional reduction of the unremitted foreign income, capital gains and clean capital in the account.

With regard to Dollared’s second query, accounting for the original investment as an offshore transfer appears to be the correct approach. The problem, as Dollared states, is in interpreting the derivation principle where an investment containing the unremitted income and gains is sold at a loss.

HMRC’s Residence, Domicile and Remittance Basis Manual at RDRM35030 does address a similar scenario where £25,000 of unremitted income is used to purchase a car which is subsequently brought to the UK at a time when the car is worth just £14,000.

In this case, HMRC state that they would treat the original £25,000 income as remitted. Unfortunately, the manuals do not cover the position if the car was sold abroad and the £14,000 was remitted to the UK.

One would hope that a purposive approach enables one to limit the income and gains remitted to the amount of funds received in the UK. Any other approach would make it impossible, in many scenarios, to disclose remittances on a “worst case scenario” basis.

For example, a remittance of £100 from a mixed fund which has been in existence for decades should be accepted by HMRC as a remittance of £100 income if the taxpayer does not wish to pay for the professional costs of analyzing the funds passing through the account since inception.

However, if the derivation principle is taken to its extreme, there is nothing stopping an inspector arguing that the £100 could have derived from income of £1m which was invested (very) badly indeed.

It is arguable that each element of the $15,000 proceeds should be proportionally reduced (giving $6,000 income, $2,250 capital gains and $6,750) and full disclosure made on the 2011/12 tax return.

However, it may be more prudent to treat the proceeds in the way suggested by Dollared because this will provide the highest tax take. If the loss was larger (say $12,000), it would be sensible to treat the proceeds of $8,000 as no longer containing any clean capital or capital gains so that a subsequent remittance would be treated entirely as income of $8,000 (assuming taxable remittances are limited to the amount received in the UK as suggested above).

I am not sure that I agree with the suggestion by Dollared that such an approach could result in double relief (as a result of the reduction of unremitted income and the benefit of the capital loss). What if the $20,000 investment had become completely worthless?

The income/gains attaching to the offshore transfer could clearly never be remitted, but one would imagine that the capital loss (arising perhaps through a negligible value claim) in these circumstances would still be allowable under TCGA 1992, s 16ZA.

Dollared’s queries are a good reminder that the mixed fund rules are often unworkable in practice and my own experience is that HMRC will accept a pragmatic approach.

Closer look... remittances from foreign income or gains

The reply from Nick Harvey raises the issue of remittances derived from foreign income or gains. HMRC’s Residence, Domicile and Remittance Basis Manual at paragraph RDRM35030 provides examples of calculating the amounts of remittances from abroad where non-cash value is involved. In each of the examples, the person involved is a remittance basis user.

In HMRC’s “example 3”, Johanna is a remittance basis user whose son has guitar lessons with a master guitarist, Kurt, every week. Johanna has a timeshare apartment in Morocco and pays £8,400 from her relevant foreign earnings each year which allows her to use the apartment for four weeks every year.

In 2013/14, rather than pay Kurt in cash for the guitar lessons, they agree that he may use the apartment for two weeks in June 2013. Here the consideration (the use of the Moroccan apartment) for the service provided in the UK derives indirectly from Johanna’s relevant foreign earnings and the amount remitted is related to the amount of income and gains from which the consideration derives, i.e. £4,200.

In example 4, Marianne purchased a car abroad for £25,000 from her foreign chargeable gains. The car is therefore treated as derived from foreign income and gains. Instead of bringing it straight to the UK, the car is kept in Italy.

A few years later she brings the car to the UK for the use of her and her daughter. At this time the approximate market resale value of the car is £14,000. However, the amount remitted is still £25,000, i.e. an amount equal to the chargeable gains from which the property was derived.

HMRC’s example 5 shows the converse. Ali purchases a sculpture in Sweden in 2012/13 for £80,000 using relevant foreign earnings. He gives the sculpture to his wife who keeps it at her mother’s home in Stockholm.

In 2015/16 Ali’s wife brings the sculpture to the UK. The sculptor has become famous, and the work has appreciated in value to £120,000.

As a result of Ali’s wife bringing the sculpture from Sweden to the UK, Ali has made a taxable remittance of £80,000 in 2015/16, i.e. the original amount of foreign income used to purchase the sculpture.

Tuesday, July 11, 2017

Planning a vacation includes selecting your destination, a place to stay and a transportation service that will get you the places in your itinerary. You need to be extra careful and pay attention to everything so you could have a memorable vacation ever. The very first thing you need to decide is the places you like to visit and the activities you want to do. Choose places that can help you relax and forget your work commitments.

The next to be considered is the accommodation. Make sure to book a comfortable place for your stay and of course, within your budget. Do some research online for hotel promos and do not forget to read trusted reviews to serve as a guide in choosing the most desirable hotel in your destination. If you already have a schedule for your trip, book your accommodation as early as possible so you could take advantage of potential cost-saving options they may offer for early bookings.

The next area of concern is the transportation service you are going to avail. There is numerous reputable chauffeur service available to cater your transportation needs. Tokyo MK Taxi has long been serving the people of Japan, Korea and the United States as a global company providing high-quality taxi and chauffeur service at a very reasonable price. They offer not just a ride in comfort and style, but an easy and stress-free way to travel and arrive at your destination. Tokyo MK Taxi features Lexus group enthusiasts and cars included in their vehicle fleet are Lexus 600hl, Lexus 460, BMW, Mercedes-Benz, Toyota Hiace and Nissan Fuga Hybrid and much more. With over 212 types of taxi and 58 different models of luxurious vehicles, we can provide the right chauffeur car service for everyone’s needs. For more details, you can visit their website.

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